Boston Scientific (NYSE: BSX) is picking up CeloNova Biosciences' interventional radiology portfolio, which makes medical devices used to deliver chemotherapy treatments, for $70 million.
The devices, called microspheres, can be loaded with chemotherapy or other drugs, and pumped through a catheter to treat cancerous tumors.
"As we continue to build our interventional oncology business, we expect that the team and technologies included in this acquisition will fuel growth in solutions to treat challenging diseases such as liver cancer, particularly in emerging markets," says Jeff Mirviss, the senior vice president of peripheral interventions at Boston Scientific.
Boston Scientific, headquartered in Marlborough, Massachusetts, develops products and technologies to treat heart, digestive, pulmonary, vascular, urological, chronic pain and other conditions.
Boston Scientific closed a deal in August for the American Medical Systems urology portfolio from Endo International plc for about $1.6 billion. Back in 2013, the company bought Bard EP, which makes catheters.
Innovations in cancer research have spurred several deals in recent years. In May, Baxter International Inc. (NYSE: BAX) agreed to buy Sigma-Tau Finanziaria SpA's Oncaspar unit, which makes leukemia medication. Before that, AbbVie (NYSE: ABBV) beat out Johnson & Johnson (NYSE: JNJ) to buy blood cancer drug maker Pharmacyclics.
For more, see New Cancer Drugs Spark Deal Possibilities.